10:1 or better Intraday BP

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Quote from simple32:

Don,

Either FIX or tailor-made API would work. But do you think big firms like Goldman Sachs will give a relatively new trader like me a kind of leverage I'm looking for (besides competitive trading fees)?

Oh dear. Quickly before the ET wolves come out of the woods in packs. You should do a bit research yourself but what our illustrious Don is trying to hint and not say is that he is the marketing guy ( the actual and not the alias LOL ) of a prop trading firm run by his brother that offers among other things direct (remote) market access via a platform known as Redi+, which is a Goldmans child. And obviously that before making any decisions you need to do some due diligence, check the balance sheet et al. LOL

Hope it helps.

 

[Don Bright]

Quote from CutsThrough:

This is an imbecilic statement. Many very solid traders have less than 500k BP. Steve Tvardek, for example, has posted on here religiously for a while and only recently got 1mm BP - was at 300 and 500k for a long time and made bank with it.

Don is completely full of shit.

Why thank you for your most kind comment, and BTW, I'm glad that Mr. Tvardek has done well. My point is that it is certainly easier to participate in lower risk, higher reward, strategies if you have access to over a $million. Heck, it takes $3 million for my traders just to engage in a good opening only automated strategy. Pairs and mergers, etc. are also capital intensive.

BP should be based on what you can handle, not some arbitrary amount "given" to you. If you are limited to $500K, and are long $490K at some point in time, do you really want to sell some of this winning position to be able to participate in another trade.?

Sell IBM to be able buy XRX or something? Isn't that why retail guys have trouble with 2 x or 4 x margin. With $20K in an account, even your $500K is 25 to one, right?

Some traders are happy with what they are making, and what they are doing, others want to expand their horizons, to each his own.

All the best,

Don